HomeMy WebLinkAboutReso RPD 29-1997RESOLUTION NO. RPD ?q-q7
RECREATION AND PARK DISTRICT OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING THE EXECUTIVE DIRECTOR TO
EXECUTE AN AGREEMENT OF GROUND LESSOR RELATED TO THE
OYSTER POINT MARINA INN (415 MARINA BLVD.) AND OYSTER
POINT VILLAGE (360 OYSTER POINT BLVD. AND 401 MARINA
BLVD.) PROPERTIES
RECITALS
Whereas, John E. King, dba Oyster Point Village has previously acquired
the ground lease and improvements related to Oyster Point Marina Inn located
at 415 Marina Boulevard and has recently acquired the ground lease and
improvements commonly known as Oyster Point Village office complex located at
401 Marina Boulevard and 360 Oyster Point Boulevard;
Whereas, King has applied for and received a loan from Allied Capital
Commerce related to both of the above-referenced properties;
Whereas Allied has requested that the City, the Recreation and Park
District, and the San Mateo County Harbor District approve an Agreement of
Ground Lessor;
NOW, THEREFORE, the Recreation and Park District of the City of South
San Francisco does hereby resolve as follows:
The Board of Directors hereby approves the Agreement of Ground Lessor, a
copy of which is attached hereto as Exhibit A, and further authorizes the
Executive Director to execute the agreement.
I hereby certify that the foregoing Resolution was regularly introduced
and adopted by the Recreation and Park District of the City of South San
Francisco at a special meeting held on the ?3rd day of April
, 19 97 by the following vote:
AYES:
Boardmembers Jim Datzman, Eugene R. Mullin, John R. Penna,
Robert Yee and Chairman Joseph A. Fernekes
NOES: None
ABSTAIN: None
ABSENT: None
A: \DISTRICT. PKS
ATTEST:
~PR-18-97 FRI
~¢/l~/~gg7
08:45
~7:03 ·
~YERS,NRVE, RIBhOK&$ILV.
805544563?
FAX NO. 510
KING VI~NTUR~$
EXHIBIT A TO RESOLUTION NO.
351 4481
RPD-29-97
P. 02/05
PP,~ 82
CI~I. T. IVanh~l,
Andrews & Kurth L.L~,
1601 Elm Strt~
4400 Th~.~Sivin[ Trover
Dallas, Texas 75201
L~n Nil.
B. A ~opy of the Levi (inoludi~ a~ ~mmdmera~ ~I mod~ic~ions th.r~to) i~ st~eh~d h~reto ~
sad .a~o~l h~ia by tl~ ~mva~; Md
C. As an ~ccommod~iou to Lessee, Lessor has a~,eed m ~x~'ut~ ~L~ Agr~m~ for ~l~ ~ of
Linde' with ~b~ ~~ tl~t Lm~ b ~,?i~ ~ tl~ ~:,t~ ~t fimh l~'~ia ~ u i~d-aem~e~ m L.~ier i~
~ · to~n (me "Lose") to Lessee m be secured, m ~ t~ a lien Stoned by l.m~e upon Lsss~'s rights an~i
NOW, THHRBPORE,, far and ia c~midm~t~on ord~ pr~misc~ and for ~hc sma ofT~ Dotlars ($I0.00) and
sood and veritable comidmtioo, th~ receipt md sufficiency of wl~ch co~si~oa i~ hemb~ actmowledged and
RPR-18-97 FRI 08:46 IiEYERS, NRVE, RIBRCK&SILV. FRX NO. 510 35] 448] P. 04/05
;s contfnuin~ at.is tJm~, nor does ~em exlst any condition o~ event which with notice, the Imssnge of'time, or both
would constitute & defautt by either party thereunder.
3. In t~= cvcnt at my dcf~tb or event of defnul~ by Lessee ~mder ~e Lease, or in tbs event Le~e ~1
tail to ~ ~ o~ ~y 0f~ ~s, c~oms or ~c~ in ~c
~fm L~d~ ~ ~e ~ inSe~ ~ (~ s~ o~ ~ ~ ~ may
00) ~ ~ii~ing Len~'s ~ of ~ ~e; ~e ~ ~X not ~
~ ~ ~, hc~f~ ~ l~on nY ~ ~ to tempts, ~ac~d ~ awid ~e ~e or L~'s
such ~l~o wi~ ~]iS~e ma c~, ~e ~e ~m ~ ~ ~
f~ L~ ~ ~ ~ ~ ~ no ~i~ of~e ~ ~ ~
m~ the ~e ~s ~ ~ ~e ~r ~ ~ ~ ~ of~e ~e
¢. Lessor consents to ~he exercise by Lender o[ any and all x-i~ a~l remedies pennlt~ under
~ of 3u~ ~lio~ I~ ~ ~ ~ md ~i~ m may ~ a~le m Len~r, ~ ~e ~t of
5. In the event Iamder shall ~v~ become ~he owner of the ri~na and imerests of Lessee in and to the
Property aha ~ by teasm otJudtciel'tor~osu~ nnnjuak~ tru.a~'s sale or ~ Fr~-':dings brousht ~ lender
to enfo~e ~ r~ u~ler ~he Seeur~ lnsm~ent, or lhrou~a my mhe~ means or mmn~' in con~ with ~ Loan,
~ be pamitted) and s~l be entitled to ail gglns, t~nefits md privileges or,he Lcs~'e under thc L~.~; and L~or
shall be bound ~o Lender under ~11 of the t~rms, covenants and condltions ofthe Lesse for thc balance ~ ~ ~f
rcmalniu~ and any rea~val ar extensian period thereof duly exercised a~ ~equi~l by gee Lee~, all withou~ Cne need to
effective and bindin~ Ul~ Lessor. Provided, howevat, that Lender or its direct successors or asst~s shall not be
(i) lhbLe for any past due mU or other expenses due fT~n f~.~see unc~ the Lense, (ii) lhble for my ~ctfon or omission
ofl,ess~ or ('&") bound b~ mncndmcnt or m~on of*~nc Lease made wld~out Lender's advance wriaen consent
AGR~F. MENT OF GROtrND LI~R - ~$e 2
RPR-18-97 FRI 08:46 MEYERS, N,qVE, RIBhOK&SILV. FhX NO. 5i0 351 4481 P. 03/05
7. Tim L~,~ sh~ll n~x b~ ~m~nd~d or modlfl~ in ~ny nmmer or zespect wi~out tl~ ~ ~ ~t
ot' lender a~d ~ny pm'ported smenae~nt or consent m~le withotn such coaseat ~ be ineff'ecrive ~1 void u ~o
~ F.~-&i~# ~ arc u, uc, concct ~d compile copics ofth~ Lees~ end thet thc Leasc is in f~ll force ~nd effect ~ ~s no~
bern1 ameaded of modified tx,;'~t ~ diaclosed m F,~.~//,//B attached hereto and incorporated herein by this reference.
Other thn the Lease (and any amenclmeut~ thereto as are cbscHl~! herein), there are no other ag~-ements, wrhten or
oral, bctw~n ].,e~or and Les~ r~lmg the I~a,~ or th~ FToptr~. The Le~or has not aa$ign~i ~, ].,c&~ or
~~ Ali ~ ~ ~ L~r ~ ~ ~ 1~ hcl~ ~ ~ive ~ ~S~
h~, ~o~e~ ~ ~ f~ ~ such ~ ~nc~ wi~o~ ~mi~on, ~y ~s~ p~ ~ ~fi~ to wh~
9, L~sor reln'~-ms and warrants to Lencler trax mere Is no lira encumbering Lessor's t~cc into'eh in ~e
~ esme encumbemt by the Lease and that no consent or joinder of any othe~ pa~ is requited to Lenor'~ e~ecution
of~h{s A~ent.
10. This Agreement may not be wilhc~w~, ~Aeo. de~ er modified ~xccpt 17Y a wrl~nn zi~reement cxecu~d
both Lessor a~d Leucbr.
I I. All notices, requests, consents, demands and other commtmic~tous t~ to this Agreement of
C~ound Lessor shall be in writ~ end shall be deemed sufficiently given i~(a) sent by certified or regulated mail wid~
poow~ pr~ re~um rm~pt requested, properly ~.adrosP, ed to ~O applicable plr~ at the tddrese.tet ~ below; (b)
delivered m person m ~ a4~lress se~ forth below for ~e par~ m wAmn ~be notre is ~tven; (c) deposiued
custody ora mtiormlly r~lb,~l overnight delivery service such as Federal Expfless Cogpoxation, ~er% or Airborne
addremed to s~ 5 party at~c ~ess specified below; or (d) sm~c 5y hcsimile, tck~n or telex provided that receipt
of such far~imile, telegram or teit~ i~ vcriF~l by the smdcr and followed by & notic~ ~nt in ~ccordau~ with ooc of
the other previsions se~ ~ above. No~ic~ shall be effective on tl~ d~te o~ delivery or receipt, or, if delivery n not
accepted, on tim earlier of'the dst* that d~liv~ry is ret~ed or five (5) days after the ds~ the rm6c~ is mailed. Pot
purpo~ of this ~;tion, the mddr~r~ oft~ parties fi~- ail noticr~ ~c as szt f~rth below (unle~ changed by
notice ~a writing ~ven by tho particular person whose address is to be changed). Prom time to ~tme, an), ~ may
desi~ate ano~,r ,aa,ms for ali ~ by sivins tim other pa~ie~ n~ce of such cimnge of address.
With r~py ~o:
C~udes T. MenbalL Esq.
Andrews & ~ L.L.P.
1601 Elm Sores, Suitc 4400
Dallas, Te~s ?$201
AGREEMENT OF GROUND LE~.qOR - ~ 3
RPR-18-97 FRI 08:47 MEYERS, NRVE, RIB~CK&SILV, FR~ NO, 510 351 4481 ?. 05/05
$an Luis Ob{s}~, CA ~J401
A,m,tio~ ,fohn ,~. KinS
#1 Johnton Pier
M~oon ~a}5 ~ 94019
PO BOX?ll
~ as oftl~ dm~ Rmt m fo~ al~'e.
DIA.~OR DIS'rI~CT,
sma of California
By:.
Nan~ (prluty.
'l'ith=
OYB'TI~ I'OllCr ~
By;
~ C,~rI'A.L COI~..i~RCIAL
By:.
AGlt~ OF GROUND LESSOR - ~ 4
O,~mr Point/Hot~l/7~026
DAL~;67401.2